Company: Chickasaw Community Financial, Oklahoma Town, OKEntry Filed By: Schnake Turnbo FrankCompany Breakdown: Chickasaw Society Lender is a complete-provider standard bank which provides a diverse array of checking account, coupons account, financial support activities, mortgages and financing features to individuals and enterprises throughout the latest part. As of , Bauer Economic ranked united states since the good 5-superstar bank, and you may we have been continuously listed in the major 15% of all of the You.S. finance companies because of the Seifried & Brew LLC.Nomination Class: Business / Organization CategoriesNomination Sandwich Group: Team of the season – Banking – Average
Nomination Term: Chickasaw People Bank, Oklahoma Area, Ok
Chickasaw Society Bank (CCB) is a full-service financial institution for individuals and businesses across the U.S., under the leadership of Native American and African American CEO, T.W. Shannon.
Founded by the Chickasaw Nation and headquartered in Oklahoma City, OK, CCB is a 100% tribe-owned bank with a mission to build better lives for everyone. Rebranded from Bank2 to Chickasaw Community Bank, it serves as a hub for minority and underserved communities and a partner for small businesses. CCB is one of just 17 Native Western-possessed community banks in the U.S. and has grown to $250 million in total assets. As of , Bauer Financial rated CCB a 5-star bank, and it has consistently been placed in the top 15% of all U.S. banks by Seifried & Brew LLC.
Chickasaw Society Lender – Team of the season – Banking
From inside the 2017, CCB (called Bank2 at the time) financed a great transformational casing opportunity when you look at the Washington condition, building forty five casing products having Indigenous Western group seeking to sobriety and you can to help you regain youngsters out-of foster care and attention. CCB given a multi-million money Identity V1 mortgage and you may walked the newest Lummi Country using brand new challenging Term V1 procedure, and you will are acquiesced by the newest You.S. Department out-of Homes and you can Urban Advancement.
Chickasaw People Lender (CCB) complete 2020 having net income over half dozen-fold new projections accurate documentation-cracking seasons of progress amid unprecedented volatility in the market and you will cost savings. Proper planning and you may thought arranged CCB to receive which swell up away from growth in a manner in which couples community finance companies across the country may have treated. CCB canned the highest amount of HUD-184 loans of any lender on the U.S., and you may with their community out-of loan providers became helping to complete brand new homeownership gap that have Indigenous Us americans all over the country. Like a tide one to brings up all boats, CCB married that have surrounding tribe, Cherokee Country, to cover more 600 rent-to-individual, multi-generational house to own displaced tribal families. CCB together with demonstrated one to society finance companies try vital partners getting short businesses unable to get well financially from COVID’s break down, and you may complete the fresh new emptiness for those turned into out from the big banking companies. CCB funded nearly $twenty seven mil in the PPP financing inside 2020, with hundreds of thousands even more within the procedure, for subscribers and you may non-people.
When you look at the 2020, CCB attained a yearly income away from $ten.1 million (a rise out-of 314% out of 2019), total industrial loans out of $127.5 mil (a growth away from %), and improved mortgages of the 60% regarding 2019, getting together with open a bank account online with no opening deposit $555 billion. To help expand the area financing, the fresh new bank’s the fresh new Brand name Ambassador program to help produce the 2nd age group of community engagement comes with Carrie Underwood’s guitar player (a keen Oklahoma native) while others revealing their individual stories, having fun with CCB because the a deck to aid others develop the efficiency, skills and you may skills.
The bank’s achievements are more than numbers and statistics; they represent a success model for serving customers and systemic opportunity that can be replicated by banks across the U.S. The significance of Chickasaw Community Bank being the #1 bank in the U.S. in providing HUD-184 loans lies in the fact it is the leading bank making the dream of home ownership more accessible to Native Americans nationwide. Numerous studies have shown that Native American housing conditions are substantially worse than other U.S. households. According to Local Western Homes Demands Analysis used by the You.S. Service away from Homes and Metropolitan Innovation, 17 percent of households in Indian country had one or more non-family members staying with them because they had nowhere else to go, and more Native Americans are living in overcrowded, unsound homes that are lacking proper heating and electrical than any other U.S. minority. As CCB is 100% tribal owned, and led by T.W. Shannon, a Chickasaw native, these statistics are deeply personal. Processing the highest volume of HUD-184 loans, building 600+ homes for Chickasaw and Cherokee tribal members and funding millions in PPP and mortgage loans is all about lending a critically-needed hand to people in need. CCB’s achievements since 2019 have not only been the tidal wave of growth of the bank itself, but also its tireless commitment to better the lives of everyone that has created a positive, measurable and lasting impact for Native Americans.
A case study on the U.S. Department of Housing and you will Urban Development as well as the Office away from Indigenous American Programs is actually connected, which provides subsequent outline concerning transformational casing enterprise Chickasaw Neighborhood Financial funded (once the referenced from inside the answer to the question: Temporarily define the fresh new selected providers).
